Storytel continues its growth, makes another acquisition.

Storytel, the Swedish audibook company, announced it acquired 100% of the shares of Kontentan Förlag AB.

The purchase was made through Storytel's subsidiary Storyside AB and is part of Storytel's focus on readily available literature in the shorter format.

The deal was made for an undisclosed amount, in cash.

Kontentan Förlag AB was founded by Thure Eneroth in 1994 and has since built up a catalog of 440 abbreviated management books. In 2016 the company had a turnover of around SEK 8 million ($900k) and broke even.

Storytel started its acquisition spree in the fall of 2016, after having raised SEK 100M from the public markets for growth by acquisitions. In November 2016, the company also bought 50% of a kids book club, Barnens Bokklubb, for SEK 550k